A STRUCTURAL EQUATION MODEL OF SUCCESS FACTORS FOR OUTSTANDING COMMUNITY ENTERPRISES IN THAILAND
Keywords:
the causal model, operating factors, success, outstanding community enterprisesAbstract
The purposes of this research were to 1) develop the causal factors affect on the success of outstanding community enterprises in Thailand, 2) analyze direct, indirect, and total effects of the factors affecting the success of outstanding community enterprises in Thailand. The research samples were 249 community enterprises that received the Outstanding Community Enterprise Award in Thailand. Data were collected through questionnaires and subsequently analyzed using structural equation modeling. The analysis revealed a good fit between the developed causal relationship model and the empirical data (x2=87.356, df =67, x2/df =1.321, CFI=0.990, IFI=0.990, GFI=0.923, RMSEA=0.035). Leadership and innovation capabilities factors explained 84% of the variance in success variables for outstanding community enterprises. Notably, innovative capabilities exerted the strongest combined influence on operational success, with a path coefficient of 0.59. This finding suggests that leadership and innovation capabilities are critical factors influencing the success of community enterprise operations. Particularly, leaders who exhibit entrepreneurial qualities, focus on change, and possess strategic flexibility in knowledge management will enhance the group's ability to adapt to changing environments. This continuous creation of new innovations is crucial for the operational success of outstanding community enterprises.
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